Plug Power raises full-year 2026 revenue growth guidance to 15%-16%.
Company targets positive EBITDAS in Q4 2026.
Plug Power aims to strengthen liquidity via asset monetization initiatives.
Overview
Hydrogen solutions provider's Q2 revenue rose 9% sequentially, gross margin improved to near breakeven.
Adjusted Q2 EPS loss narrowed year over year to ($0.07) from ($0.18).
Company raised 2026 revenue growth guidance to 15%-16%.
Result drivers
Material handling growth - Co said strong commercial momentum in material handling, including a 125% year-over-year increase in GenDrive fuel cell unit deployments, supported revenue growth and recurring revenue.
Margin improvement - Gross margin improved to near breakeven from negative levels in prior periods, which the co attributed to improved plant utilization, production efficiency, and hydrogen network optimization.
Cost discipline - Operating expenses declined about 50% year over year, which the co attributed to cost discipline and focus on asset monetization.
Key details and analyst coverage
Metric
Actual
Q2 net loss
$190.10 mln
Q2 income from operations
-$64.11 mln
Q2 pretax loss
$189.9 mln
The current average analyst rating on the shares is hold and the breakdown of recommendations is 7 strong buy or buy, 13 hold and 3 sell or strong sell.
The average consensus recommendation for the renewable energy equipment & services peer group is buy.
Wall Street's median 12-month price target for Plug Power Inc. is $3.50, about 60.6% above its August 7 closing price of $2.18.
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